On June 18, L3Harris Technologies fell 3.73% in regular trading, trading at $298.15/share, with turnover of $137 million. The decline came amid broad selling pressure across the Aerospace and Defense sector.

Within the sector, Rocket Lab USA fell 4.37%, Lockheed Martin dropped 3.40%, RTX Corp declined 2.59%, and Boeing slipped 1.33%, while GE Aerospace rose 0.74%. The sector-wide weakness weighed heavily on L3Harris, which had risen 1.82% the prior session following news that the company selected JPMorgan Chase and Morgan Stanley to lead the IPO of its missile unit Axyv, a listing that could raise up to $2 billion as early as next month. The Pentagon previously invested $1 billion in convertible preferred stock in Axyv in April. L3Harris will remain the controlling shareholder post-IPO, with proceeds earmarked for expanding solid rocket motor production facilities.

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